Blockchain technology, the software behind bitcoin, has been heralded as a potential trillion-dollar innovation. But investors have few ways to invest in the technology, which is still in its infancy and has attracted as many skeptics as proponents.
There are multiple exchange-traded funds that hold companies that have made blockchain investments, but their actual exposure to the technology is minimal.
What’s an investor to do? JPMorgan analyst Sterling Auty has some ideas. Auty is optimistic about the technology. He thinks that “permissionless blockchain,” software like bitcoin that is open to anyone, is comparable to “the World Wide Web in 1998,” even if most businesses that currently use blockchain technology are “permissioned,” meaning they don’t allow public access. And in a report last week, he picked three stocks that could benefit from blockchain over the long-term…
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